Piper Sandler Begins Coverage on First Hawaiian (NASDAQ:FHB)

Key Points

• Piper Sandler has reaffirmed a "neutral" rating for First Hawaiian (NASDAQ:FHB) with a price target of $26.00, indicating a potential upside of 5.65% from its current price.
• Multiple analysts have differing views on First Hawaiian, with ratings ranging from "underweight" to "hold"**, and a consensus rating of "Strong Sell" overall.
• First Hawaiian recently reported a quarterly earnings per share (EPS) of $0.58, exceeding expectations and reflecting a net margin of 21.45% and a return on equity of 9.29%.

Piper Sandler assumed coverage on shares of First Hawaiian (NASDAQ:FHB - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $26.00 target price on the bank's stock.

Other equities analysts also recently issued research reports about the company. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods lowered their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company lifted their target price on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average target price of $27.07.

First Hawaiian Stock Up 3.7%

FHB traded up $0.90 during trading on Thursday, hitting $25.51. The company's stock had a trading volume of 1,225,328 shares, compared to its average volume of 1,016,081. The firm's 50 day moving average price is $24.85 and its two-hundred day moving average price is $24.52. First Hawaiian has a 12 month low of $20.32 and a 12 month high of $28.80. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 6.21 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the previous year, the company posted $0.48 EPS. On average, sell-side analysts forecast that First Hawaiian will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian's payout ratio is 53.61%.

Institutional Investors Weigh In On First Hawaiian

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of First Hawaiian by 199.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock worth $26,000 after purchasing an additional 705 shares during the period. Hantz Financial Services Inc. grew its stake in shares of First Hawaiian by 11,325.0% during the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank's stock worth $34,000 after purchasing an additional 1,359 shares during the period. Headlands Technologies LLC acquired a new stake in shares of First Hawaiian during the first quarter worth $44,000. EverSource Wealth Advisors LLC grew its stake in First Hawaiian by 333.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,759 shares of the bank's stock valued at $69,000 after acquiring an additional 2,123 shares during the period. Finally, Versant Capital Management Inc grew its stake in First Hawaiian by 65.1% in the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after acquiring an additional 1,233 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.